Friday, March 25, 2016

After 146 years, Rockefeller family is exiting the oil business

After 146 years, Rockefeller family is exiting the oil business

A portrait of John D. Rockefeller, taken in the mid 1930's in Ormond, Florida.

STF/AFP/Getty Images

Heirs to the oil fortune created by John D. Rockefeller, who founded Standard Oil in 1870, are exiting the family business.

The
Rockefeller Family Fund, a charity that supports causes related to the
environment, economic justice and other issues, is liquidating its
investments in fossil fuel companies, including Exxon Mobil (XOM).